EUR-JPY: Real breakout! Signal Longterm

The indecisive price action of late came to end last Friday with the steep decline in governments bonds around the globe triggering major moves. Flight to safety can be seen in record low bonds’ yields, together with strong gold, JPY and CHF through falling EUR-CHF.

EUR-JPY has broke out of its recent range of 122-124.44. Please find attached the daily chart. After several false breakouts in recent weeks, this is a genuine breakout that shall see the pair trading much lower eventually, although another climb towards 122 is still possible.

Now: 119.52

Next stop: Daily close sub 120.

Victory FX is the owner and developer of the Orbits theory and algorithm. It specializes in identifying genuine (from false) breakouts which trigger major price cycles from their very beginning with exceptional probability of 90% about 10-14 times in a year. Trading universe includes: G10 currencies, gold, silver, oil and US bonds. R&d: 7 years.